Iranian authorities have announced a 60-day agreement allowing ships to transit the Strait of Hormuz. The announcement, made via X (formerly Twitter), stipulates access will be granted under the terms of a memorandum of understanding. This follows a period of heightened tensions regarding maritime traffic through the crucial waterway. The move suggests a temporary easing of restrictions impacting international shipping. The Strait of Hormuz is a vital chokepoint for global oil supply, connecting the Persian Gulf to the Arabian Sea and the Indian Ocean. Details of the memorandum of understanding were not immediately released, but the announcement indicates a willingness to facilitate passage for vessels.